Spotify Funding Doubles as Private Investors Raise Half a Billion Dollars
According to The Wall Street Journal, Spotify has raised between $500 million and $600 million from private investors, putting the company's total funding at more than $1 billion. If the music-streaming service does raise the money, the initial public offering would be delayed until next year. Spotify announced earlier this month that it had reached 15 million paid subscribers and 60 million active users worldwide--a 50 percent increase from last May.
By Jordan Moses
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